McClintock Minute


Articles by Jackie L. Emert, CPA, MST


New Partnership Basis Reporting Requirements

By Jackie L. Emert, CPA, MST August 30, 2019

By: Jackie Emert, CPA, MST, and Melissa Ballantine Partnership tax basis and a taxpayer’s ability to use passed-through deductions has always been a hot issue for the Internal Revenue Service (IRS). However, enforcement has been difficult, due to the multiple basis methods that are reported on partners’ Schedule K-1s. That…